FYI: Selling in Asia and Europe bled into the U.S. trading session early, though the S&P 500 pared most of its declines by the end of they day. The Shanghai Composite Index plunged 5.4%, its biggest one-day slide since 2009, which resulted in selling of recently popular ETFs that track mainland China shares. Traders cited bouts of profit-taking after that index’s monster rally in recent weeks, as well as borrowing restrictions put in place by Chinese authorities. Worries swelled in Greece, again, amid concerns that a coming election might sweep a leftist, anti-austerity party into power. Falling stocks gave a boost to U.S. bonds and gold. Energy stocks enjoyed a relief rally after a sharp drop on Monday.
Regards,
Ted
http://blogs.barrons.com/focusonfunds/2014/12/09/etf-market-vital-signs-dec-9-reality-check-for-shanghai-rally/tab/print/
